Ringgit at 13-year high vs US$
The ringgit closed at RM3.042 against the US dollar, its highest close since September 1997, the year the Asian financial crisis started.
The ringgit yesterday closed at its highest against the US dollar in over 13 years, as surprisingly strong manufacturing data in the US helped boost the outlook for Malaysian exports.
The ringgit closed at RM3.042, higher than the previous close of RM3.052.
It was its highest close since September 1997, the year the Asian financial crisis started.
The ringgit is seen trading at RM3.05 against the US dollar this quarter. This is the median of forecasts from 19 financial institutions compiled by Bloomberg. Last quarter, it averaged RM3.06.
The factory sector in the US expanded in January at the fastest pace in seven years, as manufacturers saw a sharp rise in new orders.
The Institute for Supply Management's index of manufacturing activity rose to 60.8, up sharply from 57 in December.
Malaysia is seen to benefit from this as the US is one of its top trading partners.
The ringgit yesterday closed at its highest against the US dollar in over 13 years, as surprisingly strong manufacturing data in the US helped boost the outlook for Malaysian exports.
It was its highest close since September 1997, the year the Asian financial crisis started.
The ringgit is seen trading at RM3.05 against the US dollar this quarter. This is the median of forecasts from 19 financial institutions compiled by Bloomberg. Last quarter, it averaged RM3.06.
The factory sector in the US expanded in January at the fastest pace in seven years, as manufacturers saw a sharp rise in new orders.
The Institute for Supply Management's index of manufacturing activity rose to 60.8, up sharply from 57 in December.
Malaysia is seen to benefit from this as the US is one of its top trading partners.
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